Category: Wall Street

California Real Estate Bust Offers U.S. Hope

By Mike Colpitts The boom bust cycle of California real estate holds historic lessons that every where else in the U.S. can learn from as the nation sustains the housing crisis driven by the sharpest foreclosure epidemic on record. California has seen home values drop an average of 43.7% since the housing crisis started in… Continue reading California Real Estate Bust Offers U.S. Hope

Bank CEO Admits to Robo-Signing Scandal

By Mike Colpitts Rising pressure on banks and mortgage firms are forcing lenders to merge, go out of business and make massive cuts to trim their bottom lines. The U.S. foreclosure crisis is making an ugly display of many banks balance sheets, and at least one major bank CEO is admitting to errors made during… Continue reading Bank CEO Admits to Robo-Signing Scandal

Proposals to Halt Foreclosure Abuse

By Mike Colpitts Six proposals calling for greater transparency by banks dealing with homeowners at risk of foreclosure are being proposed in a package of bills that make up the Homeowner Bill of Rights in California. The landmark legislation is the largest effort yet in any state to aid millions of homeowners abused by lenders.… Continue reading Proposals to Halt Foreclosure Abuse

Dirty Money Trail From Wall Street to Main Street

By Mike Colpitts The dirty money trail left in the wake of the financial crisis leads from Wall Street to Washington, D.C. all the way to Main Street. No other single factor has had as much of an impact on the collapse of the U.S. housing market as members of Congress lining their pockets with… Continue reading Dirty Money Trail From Wall Street to Main Street

Tougher Sanctions on Banks Proposed

By Kevin Chiu U.S. Senator Sherrod Brown (D-OH) is calling for tougher sanctions on banks abandoning homes they foreclose on leaving tax payers on the hook to maintain properties, and tougher standards to prevent evictions of families. “Too many Wall Street banks are walking away from too many Ohio Main Street communities,” said Brown. “And… Continue reading Tougher Sanctions on Banks Proposed

Divided Over Forcing Banks to Increase Mortgages

Americans are divided over whether the Obama administration should issue an executive order forcing banks to make more home mortgages and loans to business to help the U.S. economy recover from the worst hit since the Great Depression, according to a new Housing Predictor poll. The online survey was taken over the last month, and… Continue reading Divided Over Forcing Banks to Increase Mortgages

States Investigate Banks Criminal Acts in Foreclosure Crisis

By Mike Colpitts New York’s Attorney General was one of the first to pull out of the 50 state negotiations with big Wall Street banks in the robo-signing scandal, and now the same state’s Attorney General is investigating criminal acts by the same firms tied to the foreclosure crisis. “This was a man made crisis,”… Continue reading States Investigate Banks Criminal Acts in Foreclosure Crisis

U.S. Divided on Occupy Wall Street Protests

By Mike Colpitts The U.S. is divided about any good that will come from protests associated with the group Occupy Wall Street that started demonstrations in New York City and have spread across the world, according to a new opinion poll. The survey was taken over the past two weeks, during which protests moved from… Continue reading U.S. Divided on Occupy Wall Street Protests

Occupy Wall Street Protests Catch On

By Mike Colpitts In the midst of the toughest economy since at least the Great Depression, most Americans are just trying to hang on – pay their bills, the mortgage, hold on to their jobs or find new employment. The Occupy Wall Street movement that started outside of the New York Stock Exchange on Wall… Continue reading Occupy Wall Street Protests Catch On